May 27, 2020
According to the research report titled ‘U.S. Ophthalmic Sutures Market Size By Type, By Absorption, By Application, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, U.S. ophthalmic sutures market is expected to register significant growth during 2020-2026.
Increased pervasiveness of ocular and ophthalmic conditions such as diabetic retinopathy, age-related macular degeneration, glaucoma and cataract is a major factor driving the ophthalmic sutures market in the United States. According to AAO (American Academy of Ophthalmology), in the age bracket of 40 years and more, around 24.4 million people suffer from cataracts in the U.S., while 2.7 million people suffer from glaucoma.
As per the type, natural segment was worth USD 31 million in 2019 and is expected to record momentous growth during the analysis timeframe. Natural ophthalmic sutures can either be made from silk or cotton and are highly effective for various ophthalmic treatments while minimizing the risk of eye infections.
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In terms of absorption, non-absorbable ophthalmic sutures market segment is predicted to expand with a CAGR of 4.5% during 2020-2026. Non-absorbable sutures are used to offer long-term tissue support. The product is planted externally and is removed manually after the wound heals. As per AAO, around 7.7 million Americans aged 40 years or more suffer from diabetic retinopathy, hence boosting the demand for non-absorbable ophthalmic sutures.
U.S. ophthalmic sutures market share from oculoplastic surgery application was worth USD 8 million in the year 2019 and is poised to acquire commendable returns in the forthcoming years. Oculoplastic surgeries include surgical procedures for face, orbit, tear ducts and eyelids. Even aesthetic eyelid surgery, ocular reconstructive surgery and other cosmetic treatment surgeries fall under this category. Rising prevalence of eye injuries and increasing popularity of oculoplastic procedures are favoring the market dynamics.
Citing the end-use landscape, ASC (ambulatory surgical centers) segment is reckoned to witness a y-o-y growth rate of 5% during 2020-2026, primarily due to availability of cost-effective and faster treatment options in these settings. Patient preference for ASCs can be credited to improved surgeon productivity, better convenience and minimized risk of HAIs (hospital acquired infections).
The eminent companies operating in U.S. ophthalmic sutures market are Unilene, Teleflex Inc., Surgical Specialties Corp., Medtronic, B. Braun Melsungen AG, Johnson & Johnson, FCI Ophthalmic, DemeTECH Corp., Aurolab and Alcon Inc. among others.